A newspaper says Dutch bank ABN has reached an agreement to sell its U.S. bank, LaSalle, to North Carolina-based Bank of America.
The deal to sell LaSalle Bank is in conjunction with a separate transaction in which Britain's Barclays PLC would buy ABN for more than 80 billion dollars.
That's according to the report today on the Wall Street Journal's Web site. The boards of ABN and Barclays were meeting to finalize their deal and it was possible that an announcement could be made
Spokespeople for Chicago-based LaSalle Bank and Charlotte-based Bank of America didn't return phone calls seeking comment.
The purchase of LaSalle would fill a hole in Bank of America's operations in the United States.